The Lawyer’s newest product is the most comprehensive overview of the Asia-Pacific legal market yet produced. With rankings of the top 100 local law firms by lawyer headcount as well as analysis of the leading 50 international players in the region, it is essential reading for anyone interested in the strategic future of the world’s fastest growing legal market
Allen & Overy (A&O) has scored real estate developer AIG/Lincoln as a new client, after advising it on the development and pre-sale of a Munich office building to German closed-end fund Sachsenfond.
AIG/Lincoln was referred to Frankfurt-based finance partner Peter Hoegen by a contact of Hoegen’s at Hypo Real Estate, the real estate arm of HypoVereinsbank.
In addition to advising on the sale, A&O also advised on financing aspects of the deal, including construction financing, and the establishment of the companies for the acquisition structure.
AIG/Lincoln was formed in 1997 when AIG Global Real Estate launched a company with Lincoln Property Company. Headquartered in Berlin, the company initially invested in emerging markets in Central and Eastern Europe. However, in 2000, it launched a Western European programme and now has offices in Spain and Italy.
Hoegen said that he hoped to get further work from the developer. “It depends whether the company involved will do further business in Germany or other European jurisdictions, but it seems likely there will be new business,” he said.
Although he sits in the banking and finance department, Hoegen heads the real estate group in Germany, having advised on a number of real estate finance transactions.
AIG/Lincoln also has a historical relationship with Weil Gotshal & Manges partner Evan Lazar, who last month left the US firm with a team of assistants to join the Prague office of Salans.
The building, which is situated in the Munich Technology Park, was sold and has now been leased to the Munich arm of IBM. A&O started work on the deal in 2002, when AIG/Lincoln first made the decision to build and fit out the 40,000sq ft office block to be used as IBM’s headquarters.
Clifford Chance advised financing bank Eurohypo. Rechtsanwalt Stock advised Sachsenfond.